Amazon Prime Price Increase 2018: Annual Membership to Cost $20 More

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Jodi Jackson
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29 April, 2018, 01:03

Piper Jaffray increased their target price on shares of Amazon.com to $1,850.00 and gave the company an "overweight" rating in a research note on Friday. The analysts noted that the move was a valuation call. (NASDAQ:AMZN). Truenorth reported 1,791 shares or 0.94% of all its holdings. Shares of Amazon are up 60% over the a year ago.

With $2 billion or less of advertising revenue, Amazon is dwarfed by Alphabet Inc's Google and Facebook, often called an internet duopoly, but it is growing fast, maybe outselling ads on Twitter Inc and Snapchat, and it has advantages that other contenders lack.

Amazon spokespeople are saying the price increase is justifiable because the service is more valuable than it was the last time the price went up, four years ago. Robert W. Baird reiterated a buy rating and issued a $1,310.00 target price on shares of Amazon.com in a research report on Monday, January 8th. The stock now has an average rating of "Buy" and a consensus price target of $1,639.01.

Begin with index funds, they say, which hold every stock in an index, offer low turnover rates, attendant fees and tax bills, and fluctuate with the market to eliminate the risk of picking individual stocks. For context, average daily trading volume is 6.3 million shares. Net income more than doubled to $1.6 billion the company said. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.04 and a quick ratio of 0.76. The e-commerce giant reported $3.27 earnings per share for the quarter, topping the Zacks' consensus estimate of $1.80 by $1.47. The company's revenue was up 42.9% compared to the same quarter a year ago. During the same quarter in the prior year, the firm posted $1.48 earnings per share. sell-side analysts forecast that Amazon.com will post 8.65 earnings per share for the current year.

In related news, VP Shelley Reynolds sold 544 shares of the firm's stock in a transaction dated Thursday, February 15th. On Friday, February 23 the insider WILKE JEFFREY A sold $2.99 million. The stock was sold at an average price of $1,454.37, for a total value of $2,908,740.00. The disclosure for this sale can be found here. A monthly membership is also available and those who want to follow this path have to pay a monthly fee of US$12.99.

Institutional investors have recently added to or reduced their stakes in the business.

Amazon Web Services announced that it had signed on several enterprise customers during the quarter including GoDaddy, Cox Automotive, Shutterfly and NextGen Healthcare. (NASDAQ:AMZN). Vision Capital Mngmt has invested 3.38% of its portfolio in Amazon.com, Inc. Whitnell & Co. boosted its position in shares of Amazon.com by 581.3% in the 3rd quarter.

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